Offering you an opportunity to make all your dreams come true or to deal with an emergency without any financial stress, HDFC Bank Personal Loan can be availed from Rs. 50,000 and goes upto upto Rs. 40 lakh. The tenure to repay the personal loan varies from 12 to 60 months.
How to Get Low Interest Rates on HDFC Bank Personal Loan?
- Credit score: A credit score is a 3- digit numeric summary of your financial behavior and usually varies from 300 to 850. A credit score of 750 and above is considered healthy by the lenders as it reflects good financial behavior. If your credit score is more than 750, you may get a lower interest rate on your personal loan
- Income: If you have a good income, you have less chances of defaulting on your loan repayments. Hence, you might get a lower interest rate as compared to an individual with less income
- Reputed employer: When you work with a reputed employer, the lenders get an impression that you have a stable job and have more chances of repaying the loan on time. Hence, offers you a lower interest rate
- Relationship with the bank: If you are an existing customer of the bank having a savings account and holds a good history with the bank, you might be offered a lower interest rate
HDFC Bank Personal Loan- Other Fees and Charges
| Loan processing charges | Up to 2.50% of the loan amount subject to a minimum of Rs. 2,999/- and maximum of Rs. 25,000/- for salaried customers |
| Prepayment in Part or full (Refer FAQ section for detailed terms) | Salaried– No pre-payment in part or full permitted until repayment of 12 EMIs Part-payment allowed up to 25% of principal outstanding. It is allowed only once in the financial year and twice during the loan tenure. |
| Pre-payment charges (on principal outstanding) / Part-payment charges | Salaried– 13-24 months – 4% of principal outstanding, 25-36 months – 3% of principal outstanding >36 months – 2% of principal outstanding |
| Loan closure letter | NIL |
| Duplicate loan closure letter | NIL |
| Solvency certificate | Not applicable |
| Overdue EMI interest | 2% per month on EMI / principal overdue |
| Stamp duty & other statutory charges | As per applicable laws of the state |
| Cheque swapping charges | Rs. 500/- |
| Amortization schedule charges | Rs. 200/- |
| Loan cancellation charges | NIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.) |
| Cheque bounce charges | Rs. 550/- per cheque bounce |
| Legal/incidental charges | At actual |
Frequently Asked Questions
How can I repay HDFC Bank Personal Loan?
You can easily repay the loan in EMIs and the loan will be paid through post- dated cheques. Also, you can pay the EMIs through ECS or a standing instruction to debit your HDFC Bank account with the EMI amount.
Can I prepay my HDFC Bank Personal Loan?
Yes, you can prepay your loan in full any time after paying the 12 EMIs along with the applicable foreclosure charges. You can foreclose the loan by issuing a Demand draft/ cheque at the branch.
Can I make a part-payment on HDFC Bank Personal Loan?
Yes, you can make a part-payment on your personal loan after paying the 12th EMI.
- Part payment is allowed only twice during the loan tenure
- Part payment is allowed only once in a single financial year
- Each part payment you make should not exceed 25% of principal outstanding
How do I get in touch with HDFC Bank customer care?
| Ahmedabad | 079 61606161 |
| Bangalore | 080 61606161 |
| Chandigarh | 0172 6160616 |
| Chennai | 044 61606161 |
| Cochin | 0484 6160616 |
| Delhi and NCR | 011 61606161 |
| Hyderabad | 040 61606161 |
| Indore | 0731 6160616 |
| Jaipur | 0141 6160616 |
| Kolkata | 033 61606161 |
| Lucknow | 0522 6160616 |
| Mumbai | 022 61606161 |
| Pune | 020 61606161 |